IronBeam Futures Brokerage Reviews

Customer's Rating: brokerage firms reviews

IronBeam Futures customer reviews: complaints, positive feedback from clients, pros and cons. Is the broker good/safe? Is it scam?

About IronBeam Brokerage Firm

Ironbeam is a Futures Commission Merchant ("FCM") registered with the Commodity Futures Trading Commission ("CFTC") and a member of the National Futures Association ("NFA"). Ironbeam, Inc. ("Ironbeam") provides a broad range of brokerage services to institutional and retail clients alike.

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IronBeam Futures Trading Reviews

by OilTrader4, 7/11/2017

Pros: Never on hold, good customer service, great tech support

Cons: non

I've been a customer for many years. I have no complaints. They have great software, and awesome customer service. Don't listen to the negative reviews. They're probably first time traders that had no idea what they were doing.

by Ironbeam customer, 6/13/2017

Pros: None

Cons: This company is the biggest liars / cheaters I have ever come across! They attract you by low commisions and low intraday margins eg $1k but dont allow you to trade without putting stop loss if using margin and will suspend trading if you dont put stop loss and dont allow trading to monitor your positions and margins in real time manually. Lost $500. Stay Away.

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by scott baldwin, 5/23/2017

Pros: 24 hour customer service, when you need your money from your account they are prompt sending it with no delays

Cons: none

never had a problem with firetip trading platform

by Top Step, 5/11/2017

Pros: Great platform. Always answer phone in a couple rings (rarely on hold). Access to all products

Cons: None

I like getting access to new CME products such as the Wednesday weekly options. Also no stress or issues selling options like other brokers. I have been a customer for 4 years.

by Kevin, 3/29/2017

Pros: none 0 stars

Cons:

This company is the biggest liars / cheaters I have ever come across in my 20 yrs of trading ! Stops magically change they will liquidate your account even if your not on a margin call They are the biggest fricken joke I have ever seen !

by FuturesTrader, 10/26/2016

Pros:

Cons: Add fees without consent. When you call about your account they don't even ask for a password. Anyone who has my account number could call and find out everything about my account and maybe even place trades!

I opened an account with Zumo back in 2011, which had Farr Financial as a clearing firm. Later Farr changed to Ironbeam. For the first 2 years everything was fine. Low 50 cent commissions per side (plus the normal exchange fees). Firetip platform was free and I liked it. Then around 2014 they slapped on a $49 per month fee for using Firetip, without even telling me. I found out on the statement. Then they upped the commissions and added "Broker Fees" on top of the higher commissions, making the total cost of a trade higher than almost all other online brokers. And again, without telling me. I found the higher charges on my statement. I stopped trading with them and recently asked to close my account. The only positive is that my money was in my checking account the next day. Minus a $40 wire fee.

by Disgusted, 9/7/2016

Pros: There are none.

Cons: They are the "Cons"

First they promised 50 cent commissions plus exchange fees without markup. Lied. Charged $13.65 for a trade that should've been $2.54. Added clearing fees, brokerage fees, and marked up exchange fees by 65 cents.

They don't offer you an ability to withdraw by ACH even though you can deposit by ACH. Fraudulent practice to increase probability of generating a higher number of exorbitant $40 wire fees.

They try to hold you hostage and tell you "since you have an open position (even if only a LONG FULLY PAID FOR FUTRES OPTION!!!) that you would not be allowed to withdraw ANY money from your account. Regardless of whether or not you have excess liquidity or funds that exceed ANY margin requirement - let alone the fact that there is NO margin requirement for long options.

RUN, FOREST, RUN!!!

by Joe G, 3/7/2016

Pros: Nothing

Cons: Group of thieves

the Firetip software failed to load charts, I was instructed by Ironbeam to Restarted the software, all of a sudden it showed, I am short 9 contracts, when in fact, I have NEVER traded more than 2, max. 3 contracts, in 2 Minutes I had lost $3000.00.

When contacted Ironbeam, they claimed, I was responsible, and had "idea" what had happened.

STAY AWAY FROM THEM, UNLESS YOU HAVE PLENTY $$$ TO LOOSE

by c9700@aol, 11/27/2015

Pros:

Cons: cheaters

I had an account with Ironbeam, in one day made 8 trades, was charged for 17. Try to call or online chat, they disconnect from the conversation. Don't do it.

by Trader, 9/16/2015

Pros:

Cons:

The company goes by many curious names: Farr, Ironbeam, DT Futures, Go, etc. Management are liars. Sneaky and unethical. They say one thing, do another. Their platform is very unreliable, actually a toy. Even worse, their company is run out of a small office and their system runs off a standard pc, but no UPC backup, no redundancy, no system in place in case of a hardware failure or software failure. It's pretty appalling. Quite a joke. The guys who own and manage the company are a family of Middle Easterners with very questionable morals. Avoid. Avoid. Avoid.

by astralmarket, 7/21/2011

Pros:

Cons:

Run away from it.
A glitch in their software cost me over $600 and the losers from IronBeam who are part of it would not refund me the money.

I sat there all day showing 5 YM contracts and at the end of day I clicked the Go Flat button which showed I sold all 5 contracts.
30 minutes after the close I get a call from the broker saying I was in the red for my account.
A phantom 6th contract was out there and got sold when the futures market closed.

All Ironbeam could say was that I was responsible for keeping track of my trades.
How do you keep track of a trade that the platform did not show existed?
What a joke.
I have filed with the FTC and will be fighting them.

by astralmarket, 7/13/2011

Pros:

Cons:

I found that firetip is offered by the same go futures, ironbeam or farr financial group. I applied for an account at proactive and chose firetip platform but the underlying brokerage was ironbeam.
I already posted my experience with them for being flickery, unreliable and charging for platform $125 pm and other fees of $50 pm if you cant trade a month.

See any company that plays tricks with customers and does not honor what they advertise clearly is not to be trusted.

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IronBeam Futures Trading reviewed by TopRatedFirms.com users. 12 customer reviews. Rating: 2.